SHENZHEN, China , Nov. 3 /Xinhua-PRNewswire/ -- China Security &
Surveillance Technology, Inc. ("China Security" or the "Company")
(NYSE: CSR)(DIFX: CSR), a leading provider of digital surveillance technology
in China , today announced that it has signed an exclusive strategic
partnership contract with Huang Shan City Broadcasting Bureau, valued at
This contract entitles the installation of a city-wide security total-solution system including traffic monitoring, electronic police system, a surveillance network build-out, and digital data management. Huang Shan City is a prefecture-level city of An Hui Province with a population of roughly 1.5 million people, located in eastern China across the basins of the Yangtze River and the Huaihe River.
Mr. Guo Shen Tu , Chief Executive Officer of China Security, commented, "This is a very nice contract win for our business. We are excited with this agreement in Huang Shan City and believe CSST was selected exclusively for this assignment because of our broad range of security products and our position as a one-stop solutions provider for security and surveillance needs. We are hopeful that most of the project work related to this agreement will begin in the second quarter of next year with the majority of the revenues to be recognized by the second half of 2009. The Huang Shan City broadcasting bureau is a government organization that has extensive infrastructure coverage, even more so than the local telecom operators. We are pleased to be coordinating work with this important broadcasting authority which provides further evidence that we continue to gain credibility and visibility within China as a preferred provider of security and surveillance services. The overall growth for Safe City projects in China remains strong. We remain comfortable with the direction of our business and we intend to capitalize on all security opportunities to expand our overall market share."
About China Security & Surveillance Technology, Inc.
Based in Shenzhen, China , China Security manufactures, distributes, installs and services security and surveillance products and systems as well as develops security and surveillance related software in China . Its customers are mainly comprised of commercial and government entities and non-profit organizations. China Security has built a diversified customer base through its extensive sales and service network that includes over 150 branch offices and distribution points throughout China . To learn more about the Company visit http://www.csst.com .
Safe Harbor Statement
This press release includes certain statements that are not descriptions of historical facts, but are forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, our future operating results, our expectations regarding the market for security and surveillance products, our expectations regarding the continued growth of the security and surveillance market, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause our actual results to differ materially from those anticipated, expressed or implied in the forward-looking statements. These risks and uncertainties include, but not limited to, the factors mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2007 , and other risks mentioned in our other reports filed with the Securities Exchange Commission, or SEC. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov . The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The Company assumes no obligation and does not intend to update any forward- looking statements, except as required by law.
SOURCE China Security & Surveillance Technology, Inc.